Solar PV Firm Seeks South American Foothold

December 1, 2003 [SolarAccess.com] Florida-based Universal Communication Systems (UCSY) has entered into a licensing agreement with Brazil-based Heliotek Maquinas e Equipamentos, a manufacturer of thermal solar panels. The transaction calls for the establishment of a manufacturing facility to exploit UCSY’s patented Photovoltaic Multi Solar System (MSS) technology. The licensing agreement calls for an initial license payment of US$200,000 and ongoing royalty payments of 5 percent for all new MSS products to be manufactured both for the local Brazilian market, as well as exports to other countries. Under the terms of the licensing agreement, UCSY’s subsidiary, Millennium Electric T.O.U. Limited, will transfer and furnish all the know-how, technology and engineering, as well as support and training, to enable Heliotek to manufacture MSS technologies in Brazil. Millennium Electric will further assist and cooperate in the marketing of the MSS range of products throughout South America. UCSY Director Ami Elazari said that the agreement establishes a foothold for UCSY in select countries for the manufacture of MSS systems and products.
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